Common use of Payment Owed Clause in Contracts

Payment Owed. Except in the case of termination of this Agreement as a result of an uncured, material breach of this Agreement by the Institution, upon termination of an SOW, SPONSOR shall, upon receipt of applicable invoices and other supporting documentation reasonably satisfactory to SPONSOR: (a) reimburse the Institution for its necessary Study costs and necessary un-cancelable Study costs and expenses incurred in connection with transfer of Subjects pursuant to Section 22.3 and (b) with respect to Subjects who have not completed the Study at the date of the termination, make payments to the Institution in accordance with the applicable Study Budget for work already performed in accordance with the Study. For clarity, the SPONSOR shall pay for all work performed and Study expenses incurred in accordance with the applicable Study Budget until the point of the material breach by Institution.